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Injective Protocol: everything you need to know about INJ

Axel van den Boogaard

Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.

Injective Protocol facts

Abbreviation

INJ

Category

DeFi

Founder(s)

Eric Chen, Albert Chin

Blockchain

Ethereum

Protocol

Proof of Stake, Byzantine Fault Tolerance

Launch date

November 2021

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What is Injective Protocol?

Injective Protocol (INJ) is a decentralized trading platform built on the Ethereum blockchain and the Cosmos SDK, the Cosmos Software Development Kit. On this platform, users can trade various financial instruments, including stocks, futures, and options, globally without the need for a central intermediary. This means that users have full control over their own assets.

What sets Injective Protocol apart from other decentralized trading platforms is the ability to trade without borders, free from the limitations of traditional financial markets and exchanges. The protocol utilizes a decentralized order book, meaning each transaction occurs directly between the parties involved in the trade. This allows investors to trade in real-time with minimal delays and lower costs.

Thanks to an innovative technological design known as "Tendermint Core," the Injective platform can achieve high transaction speeds with robust security. The platform has its own native token, the INJ token, which is used as the primary method of payment on the platform and to incentivize users to participate in the network and contribute to the protocol.

How does Injective Protocol work?

Injective Protocol provides investors access to a wide range of financial instruments and trading opportunities without the restrictions seen in traditional financial markets and exchanges. The decentralized order book enables direct transactions between parties without the involvement of a third party, while Tendermint Core ensures high transaction speeds and advanced security. Users can participate in the governance of the protocol, giving them a say in important decisions about the platform's future. Overall, Injective Protocol offers an appealing platform for investors seeking a decentralized alternative to traditional financial markets and exchanges.

The INJ token

The INJ token is designed to serve various purposes, primarily to incentivize users to contribute to the development of the platform.

The INJ token has several functions, including governance, staking, paying transaction fees, attracting liquidity, and rewards. INJ holders can participate in decisions regarding key aspects of the platform and can earn passive income by staking their tokens and providing liquidity. The use of INJ tokens for these different purposes ultimately contributes to the adoption of the platform and the development of a thriving ecosystem.

The Technology Behind INJ

INJ is built on a customized implementation of the Cosmos SDK, a flexible framework for dApp development that allows developers to add new features and tailor the platform to user needs.

At the core of the platform is the Injective Chain, a Tendermint-powered Proof-of-Stake blockchain designed to enable fast and secure financial transactions. It utilizes a hybrid consensus mechanism that combines Proof-of-Stake and Tendermint's Byzantine Fault Tolerance for reliability.

Injective Protocol ensures platform security through extensive decentralization. It is divided into layers, including trading, coordination, and governance, each with specific functions, independently upgradeable and maintainable:

  • The trading layer facilitates transactions and manages trading pairs with an efficient order book model.
  • The coordination layer oversees trading across different levels and facilitates communication between platform components.
  • The governance layer manages INJ tokens and decisions on critical platform aspects. INJ holders participate in protocol changes and shape the platform's future.

The Injective Protocol ecosystem

The Injective Protocol ecosystem consists of various components that collaborate to support the platform. What are these components?

  • Injective Chain: The core of the platform and the blockchain that enables building and running DeFi applications. Injective Chain is a layer-2 solution designed to provide high throughput and low transaction costs. It uses the Tendermint consensus algorithm and supports the Ethereum Virtual Machine (EVM).
  • Injective Exchange: The trading platform built on top of the Injective Chain. It offers fast and decentralized trading of various assets, including cryptocurrencies, stocks, futures, and options.
  • Injective Futures: A part of Injective Exchange that provides futures contracts for various assets. Users can take long and short positions and generate income by speculating on future price movements.
  • Injective Markets: A component of Injective Exchange that provides markets for trading assets, including cryptocurrencies, stocks, and other financial instruments.
  • Injective Liquidity Mining: A program that allows users to earn INJ tokens by providing liquidity to specific trading pairs on the platform. It incentivizes liquidity provision and helps increase platform liquidity.
  • Injective Hub: A hub for developers that makes it easier to build applications on top of the Injective Chain. The hub provides tools, documentation, and support for developers looking to build dApps on the platform.

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Benefits of Injective Protocol

Why do investors choose Injective Protocol?

  • Developer-friendly platform
  • Options for passive income
  • Focus on inter-chain DeFi applications
  • Low transaction costs
  • Access to previously inaccessible markets

Drawbacks of Injective Protocol

What are the disadvantages of INJ that investors should consider?

  • Low number of validators on the network
  • High competition pressure in the DeFi market
  • Volatility in token prices

Who is the founder of Injective Protocol?

The founders of Injective Protocol are Eric Chen and Albert Chin. Chen earned a degree in finance from New York University's Stern School before working as a Venture Partner at Innovating Capital, an early investor in Injective Protocol. Chin previously worked as a Software Development Engineer at Amazon after earning a master's degree in computer science from Stanford University.

Injective has raised tens of millions of dollars in capital from notable investors, including Pantera Capital and Mark Cuban.

Price forecasts

In 2026 experts expect a minimal price of €81.20 and a minimal price of €268.08 in 2031.

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